Equities
Nvidia, Big Tech stocks tumble as Chinese AI model stokes competitive fears
Moonshot AI's Kimi K3 highlights rapid advances by developers in China
Investors worried that Chinese developers are narrowing the technology gap with U.S. peers while offering AI services at substantially lower prices. © Reuters
HIROFUMI TAKEUCHI
July 18, 2026 01:29 JST
Updated on July 18, 2026 06:34 JST
NEW YORK -- U.S. technology stocks fell sharply on Friday after a Chinese startup unveiled a low-cost artificial intelligence model that could rival leading U.S. systems, reviving concerns about America's dominance in the AI race.